The aggregated crypto markets have been incurring significant amounts of downwards pressure over the past couple of days as a result of Bitcoin’s inability to climb past $9,000. This has led Ethereum to face considerable selling pressure that has led its price to drop significantly from its recent highs.
Despite this latest drop, it is important to note that recent data suggests that ETH is incurring significant fundamental strength, which may ultimately allow it to surge higher.
Ethereum Finds Support Around $250 After Plunging
At the time of writing, Ethereum is trading down nearly 8% at its current price of $258, down significantly from its 24-hour highs of nearly $290.